If you have been in the wealth management industry for any amount of time, you will know that many (most?) firms are not known for their pricing transparency. At Sovereign, we believe in not only highly competitive pricing, but also, absolute transparency and clarity when it come to pricing disclosures. We maintain this credo of transparency with the individual clients of our corporate RIA and we maintain this credo with the advisors who affiliate with us.
In fact, we look at the platform fees and our relationships with our advisors as a "Cooperative". Our goal is is to take advantage of our collective scale to be able to deliver advisor support solutions in the absolutely most cost competitive way to all of our affiliated advisors.
All advisors on our platform receive the same payout: 100%
That's pretty straight forward, and absolutely correct. There are no hidden fees, ticket charges, haircuts, from the BD, Custodian, or the RIA. For example... if you have an account with $1,000,000 and you charge that account 1.5%, you will receive $15,000 - period.
Our platform fees are as straight forward as they are competitive:
1 Base Tech includes: Orion, Salesforce, Office 365, RingCentral, AdvicePay, Global Relay. eMoney & Riskalyze are offered as an optional add-on at $100 / month – a deep discount to the actual cost. There may be a de minimis per account charge for low balance accounts. These charges are determined in advance on a case by case basis.
We also have systems in place that allow our advisors to easily and efficiently charge a fee (flat, subscription, AUM, etc.) for financial planning, advising on held-away assets and other "consultative" engagements. The payout for these fees are at 90% (less a review fee of $18 / quarter / household for ongoing engagements or $75 per engagement).
In short, these platform fees cover 100% of what you will need to run your business -- focus on the aspects of your business that you love and leave the rest to us: